IPO Disasters…Orient Green @ Rs 14 & Tirupati Inks @ Rs 8 ! …A 10 Month countdown to Blast off!…10,9,8,7,6,5,4,3….down 70% +
IPO Disasters…Orient Green @ Rs 14 & Tirupati Inks @ Rs 8 ! …A 10 Month countdown to Blast Off!…10,9,8,7,6,5,4,3….down 70% +
|
IPO Scrip |
BSE Code |
Listing |
Issue Size Rs Crs |
IPO Price Rs |
Current Price Rs |
Market Cap Rs Crs |
Volumes |
% Erosion from Issue Price |
|
Orient Green |
533263 |
8/10/2010 |
900 |
47 |
14 |
658 |
@4 lakh shares |
70 |
|
Tirupati Inks |
533258 |
1/10/2010 |
51.50 |
43 |
7.80 |
11.9 |
A Few thousand |
82 |
Both appear to be large scale IPO Pricing Valuation Cons !….advised and probably even abetted by Lead Managers….Sad !….Thousands of Retail Allotees in these Scrips have got gyped badly…..methinks we desperately need the Controller of Capital Issues back again…atleast to set a cap on IPO Pricing !
Now let me set a Cat among the Pigeons !
….After such a 70% to 82% Erosion in the Share Price from the Ofer Price in just 10 Months do you think Orient Green and Tirupati Inks present an investment oportunity and are worth buying at Rs 14 and under Rs 8 respectively !…the invested IPO Monies in new projects have yet have to bear fruit..Scrips are Down but Not Out…yet ! or are you Once Bitten,Twice Shy !? ….and Orient Green was a huge IPO Issue Size…Rs 900 crs !
Got you thinking !
Cheers !